‘Not overly pessimistic about jobs scenario in IT; start-ups can compensate’
The RBI Governor said that creation of a national market, GST will also reduce many inefficiencies within the states while moving goods from within a state and also across the country
The vote marked the first non-unanimous decision in the five meetings since the MPC was formed in September 2016.
Unfortunately, Governor Urjit Patel of the Reserve Bank of India has not been able to understand the index of distress of farmers, when he demonstrated the negative impact on the economy due to farm loan waivers.
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His remarks come in the backdrop of a slew of farm loan waivers granted or promised by various state governments in the run-up to the 2019 Lok Sabha elections in the country.
In January, the panel had summoned top finance ministry and RBI officials to discuss the demonetisation process and its impact.
Reforms in life, general insurance were also talked about: Panel member
“The Act clearly says four percent is the target and the two to six percent band has been given only to absorb temporary or one-time shocks.”
Urjit Patel interview: Demonetisation will result in a downgrade of growth for a short period of time.
From Jallikattu protests to Etah bus accident to Vijay Mallya — here are the top stories for the afternoon bulletin on January 19.
The RBI has faced flak after the government announced its decision to withdraw Rs 500 and Rs 1,000 notes on November 8, 2016 and the way the exercise was handled by the government and the central bank.
The questions put up by the panel ranged from the total amount of money that came back during the demonetisation period to the total amount of new bill that were printed.